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Miner NWR posts Q2 net loss on weaker coal prices

Reuters - UK Focus

PRAGUE, Aug 21 (Reuters) - Czech hard coal miner New World Resources (NWR) posted a 30.2 million euro net loss in the second quarter as it pushes ahead with a capital restructuring plan.

Analysts polled by Reuters had expected a net loss of 29.8 million euros.

Revenue fell to 173.8 million euros versus expectations of 176.6 million and down from 222.8 million a year earlier.

Hurt by a fall in coal prices, NWR is restructuring. Shareholders approved a planned rights issue to raise 118 million euros on Wednesday. (Reporting by Jason Hovet; editing by Jason Neely)